CANADA - The C$96bn (US$84bn) Ontario Teachers' Pension Plan (OTPP) has completed its purchase of the first three of four marine container terminals in North America from Orient Overseas (International) Limited of Hong Kong.
The deal is worth a total of US$2.4bn, and the assets will be held within the plan's infrastructure and timber portfolio, which now totals US$6.5bn.
The first three purchases were TSI Terminal Systems Deltaport and Vanterm facilities in Vancouver, and Global Terminal and Container Systems in New Jersey.
OTPP said the New York Container Terminal purchase would likely be completed before mid-year.
"The new assets are now part of the pension plan’s infrastructure and timber portfolio, which also includes such world-class assets as Express Pipeline System (petroleum export pipeline), Scotia Gas Networks (gas distribution), InterGen N.V., and Northumbrian Water Group," OTPP said in a release.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.